• Korean Journal of Construction Engineering and Management
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• v.4 no.4 s.16
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• pp.212-219
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• 2003

In construction project planning and control, a cost model performs a critical role such as cost determination on a contract stage and cost tracing. The model can maximize owner's profit and value within the project budget and optimize cost management works on overall construction implementation stages. A BoQ(Bill of Quantities) generally adopted in a unit price contract has been applied as an important tool for cost control and forecast. However a previous cost model based on the BoQ has shown limitations in that it requires too detailed information and heavy manpower on cost management and difficulty in keeping relationship with construction planning, scheduling and progress management. The each cost items and unit prices which constitute of construction works are individually very important management factors but the relative weight for each items and prices have a difference on the contents and conditions of each conditions of each construction works. In consideration of this structural mechanism of cost determination, this research is aimed at examining the critical factors affecting the construction cost determination and propose and verify a new cost forecasting model which is more simple and efficient and also keeps the accuracy of cost management.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.600-601
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• 2015

Both the importance and process of estimating Nuclear-power plant construction time and cost have increased in significance as energy user costs themselves have become more significant. In estimating construction time, few parameters are more significant than work item production rates and factors significantly affecting the rates. A standardized data collection tool was used to acquire a total of 401 data points from a S Nuclear-power plant project, for selected critical works: form-work, rebar-work, and concrete-pouring. With the data, several hypothesized drivers of the man-hour production rates and crew-day production rates were also analyzed. Findings from this study will enable industry professionals to enhance accuracy of time and cost estimation for nuclear power plant construction.

• International conference on construction engineering and project management
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• 2020.12a
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• pp.149-156
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• 2020

Blast furnace revamping in steel industry is one of the most important work to complete the complicated equipment within a short period of time based on the interfaces of various types of work. P company has planned to build a Smart Tracking System based on the wireless tag system with the aim of complying with the construction period and reducing costs, ahead of the revamping of blast furnace scheduled for construction in February next year. It combines the detailed design data with the wireless recognition technology to grasp the stage status of design, storage and installation. Then, it graphically displays the location information of each member in relation to the plan and the actual status in connection with Building Information Modeling (BIM) 4D Simulation. QR Code is used as a wireless tag in order to check the receiving status of core equipment considering the characteristics of each item. Then, DB in server system is built, status information is input. By implementing BIM 4D Simulation data using DELMIA, the information on location and status is provided. As a feature of the S/W function, a function for confirming the items will be added to the cellular phone screen in order to improve the accuracy of tagging of the items. Accuracy also increases by simultaneous processing of storage and location tagging. The most significant effect of building this system is to minimize errors in construction by preventing erroneous operation of members. This system will be very useful for overall project management because the information about the position and progress of each critical item can be visualized in real time. It could be eventually lead to cost reduction of project management.

• Journal of the Korea Institute of Building Construction
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• v.17 no.6
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• pp.535-544
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• 2017

This paper analyzes the relations between design errors, prevented by building information modeling (BIM)-based design validation, and their impacts in order to identify critical consideration factors for implementing BIM-based design validation in architecture, engineering, and construction (AEC) projects. More than 800 design errors detected by BIM-based design validation in two BIM-based projects in South Korea are categorized according to their causes (illogical error, discrepancy, and missing item) and work types (structure, architecture, and mechanical, electrical, and plumbing (MEP)). The probabilistic relations among the independent variables, including the causes and work types of design errors, and the dependent variables, including the project delays, cost overruns, low quality, and rework generation that can be caused by these errors, are analyzed using logistic regression. The characteristics of each design error are analyzed by means of face-to-face interviews with practitioners. According to the results, the impacts of design error causes in predicting the probability values of project delays, cost overruns, low quality, and rework generation were statistically meaningful.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.35-41
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• 2002

This research introduces the development of a project-level cash flow forecasting model in construction stage based on the planned earned value and the cost from a general contractors view on a jobsite. Most previous models have been developed to assist contractors in their pre-tendering or planning stage cash flow forecasts. The critical key to cash flow forecasting at the project level is how to build a cash-out model. The basic concept is to use moving weights of cost categories in a budget over project duration. The cost categories are classified to compile resources with almost the same time lags that are based on contracting payment conditions and credit times given by suppliers or venders. For cash-in, net planned monthly-earned values are simply transferred to the cash-in forecast, to be applied there with billing time and retention money. Validation of the model involves applying data from on-going 4 projects in progress for 12 months. Based on the results of the comparative analyses through the simulation of the proposed model and the existing models, the proposed model is more accurate, flexible and simpler than traditional models to the employee of construction jobsite who is not oriented financial knowledge.